EXETER – Svenhard’s officially filed for bankruptcy last month, spelling trouble for the central valley baking company.
On Dec. 19, the company filed for chapter 11 bankruptcy citing between $10 and $50 million in estimated liabilities owed to between 200-999 creditors. According to Svenhard’s bankruptcy paperwork the company has between $1 million and $10 million in estimated assets.
In a resolution passed unanimously on Dec. 13 by the Svendhards Swedish Bakery Board of Directors, they determined that it was best to file for bankruptcy.
To read the rest of the story, please go to: Sun Gazette